A PROPOS

Kazakhstan is the largest, most modern of the Central Asian republics. The country claimed sovereignty on October 26^th 1990 - and independence on December 16^th 1991.

In the last 16 years, under the direction of President Nursultan Nazarbayev, the transition from a planned to market economy has been successfully effected.

The geopolitics of Kazakhstan make it the leading country of Central Asia - and its location an inevitable bridge to Europe.

Covering an area of 2.7 million KM2, Kazakhstan is the 9^th largest country in the world – with a population of 15.4 million people. The population comprises 100 different ethnic groups – with a religious make-up that is 57% Islam and 40% Christian. Appropriately, The Congress of World Religions is held in the Kazakh capital, Astana, triennially.

In 2006, Kazakhstan enjoyed the highest growth of all CIS member states (including Russia); the Kazakh GDP per capita rose to US$ 5500. This year the GDP per capita should reach US$ 7000 (up 27%). By 2012 Kazakhstan plans to have increased its GDP to US$ 13,000. In 2006 export turnover reached US $38.3 billion (imports – US $23,7 billion).    

Kazakhstan has hydrocarbon reserves estimated at 110 billion barrels of oil and 5 trillion cubic metres of gas. In 2006, oil production reached 64.4 million tons and net oil exports reached 57.1 million tons. By 2015, these reserves (including the Kashagan deposit - which is the 2nd largest in the world) will make Kazakhstan an important oil producer. The National Oil Fund, established in 2000 and managed by the Ministry of Finance, aims to accumulate financial resources for future generations (this year, the Fund will exceed $ 40,000 billion).

Abundant reserves of barium, lead, tungsten, silver and zinc exist, and the country boasts the second largest global reserve of chromium, the third largest of manganese as well as significant deposit of copper, gold, and iron. Uranium in Kazakhstan (1.5 million tons) represents 19% of the world’s reserves. Today, mining is underway with the aim of reaching annual production of 15,000 tonnes.

Although the oil and gas industry is the most dynamic sector of its economy, Kazakhstan is actively promoting corporate governance, increased transparency, social reforms, decentralisation, the further development of small and medium businesses, accession to the WTO and agriculture.

More than 74% of land in Kazakhstan is suitable for agriculture - which currently represents 5.5% of GDP, and employs 20% of the work force. In 2006 Kazakhstan produced 18 million tons of wheat (exporting over 6,2 million tons). The soil is also ideal for barley, rice, corn, millet and buckwheat propagation. For now, stockbreeding is the principle form of agricultural.

Kazakhstan’s objective is to become one of the 50 most developed nations in the world. The World Bank has declared Kazakhstan one of the most promising locations for investment. The current Moody rating is Baa2/Baa1 and Standard & Poor’s is BBB/BBB+/Positive.